Shenzhen kicks off 21 major projects

19 Feb The Chinese city of Shenzhen has kicked off work on 21 major projects with a projected combined cost of some CNY46bn (£5.2bn).

The projects are in the Qianhai area and the Shenzhen-Hong Kong Science Innovation Zone.

The 10 projects in Qianhai – which have a total cost of CNY12bn - include the construction of headquarters buildings, a convention centre and a park. One of the buildings is for WeBank, which was set up on 2014 is one of the country’s first batch of private commercial banks and is known for its online use of facial recognition security software.

The projects at the Shenzhen-Hong Kong Science Innovation Zone include infrastructure, science research facilities and incubators as well as the relocation of a village. The 11 projects in the zone will cost CNY34.4bn. They include the China (Southern) IPR Operation Center, the relocation of Nanhua village and the establishment of research institutes.